It’s common for directors of small limited companies to take money out of the business through a director’s loan account (DLA), especially when drawing funds ahead of dividends or during tight cash flow periods. But if this account becomes overdrawn, there are tax consequences that both the company and the director need to be aware…
Selling a second property in the UK involves understanding the Capital Gains Tax (CGT) implications to ensure compliance and effective financial planning. As of 1st April 2025, several changes to CGT rates and allowances will affected how much tax you may owe upon disposal of such properties. Understanding Capital Gains Tax on Second Properties When…
At Greystone Advisory, we believe that running a tax-efficient business is one of the easiest ways to boost your bottom line without working harder. It’s about being smart, organised, and making the most of the reliefs and allowances available to you. Here are 10 simple yet powerful ways to improve your business’s tax efficiency: 1.…
Gifting a property in the UK involves several tax considerations, which can vary depending on whether the property has an outstanding mortgage. Here’s an updated overview reflecting changes effective from 1 April 2025: 1. Stamp Duty Land Tax (SDLT) Without a Mortgage: • Transferring property as a gift without any consideration (payment) typically does not…
Running a business in the UK means juggling many responsibilities, taxes being one of the big ones. Missing a deadline can lead to penalties, interest charges, or unnecessary stress. To keep things simple, here are five key tax deadlines that every UK business owner should have in their calendar. 1. 31st January: Self Assessment Tax…
Keeping an eye on your business’s financial health isn’t just for accountants, it’s essential for making smart, confident decisions. Whether you’re looking to grow, improve profitability, or simply stay on top of cash flow, tracking the right financial KPIs (Key Performance Indicators) will give you the clarity you need. Here are the top financial KPIs…
If you’re self-employed or submit your tax return yourself, mortgage lenders will usually ask for your SA302s and Tax Year Overviews to verify your income. These documents come directly from HMRC and are quick to access if you know where to look. Here’s a simple guide to finding them via your personal Government Gateway account.…
As of 6 April 2025, a number of tax and employment law changes officially came into force, and they directly affected small businesses across the UK that employed staff. If you’re an employer, these changes likely increased your wage costs, added new HR responsibilities, and introduced fresh compliance risks. Here’s a clear, practical breakdown of…
If your business owns or plans to purchase a pickup truck, significant tax changes came into effect from 1st April 2025. These changes will impact both existing company-owned pickups and new ones purchased after this date. Understanding how these changes affect your tax position is crucial to making informed decisions for your business. What’s Changed?…
As of April 2025, a wide range of tax increases and regulatory changes took effect across the UK, impacting businesses, property owners, and individuals. These changes brought rising costs, reduced tax reliefs, and significant shifts in how various assets and activities are taxed. Here’s a summary of what changed, how it affected different sectors, and…